Active

202 Broadway

Norwich, CT 06360
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Bed 16

Bed

Bath 0

Bath

SqFt3,861

Sqft

Acres0.76

Acre(Lot)

Rare opportunity to acquire a 14-unit multifamily portfolio consisting of two nearby 7-unit properties located at 202 Broadway and 7-9 Broad Street in Norwich, Connecticut. Offering immediate scale, diversified unit mix, and significant rental upside, this package is ideal for investors seeking a larger multifamily acquisition with strong in-place cash flow and a clear path to value creation. The portfolio consists of a mix of 2-bedroom, 1-bedroom, and studio apartments that appeal to a broad tenant base while providing diversification across unit types. Both properties are fully occupied and benefit from off-street parking, public utilities, and strong occupancy history. Located in one of New London County's most sought-after residential neighborhoods, the portfolio benefits from strong t enant demand, attractive surrounding housing stock, and convenient access to downtown Norwich, healthcare facilities, shopping, restaurants, and major transportation corridors. Current gross annual income of approximately $217k is significantly below market, with projected stabilized income of approximately $270k, representing over $53k in additional annual revenue through rent stabilization and operational optimization. The portfolio is projected to achieve a 9.8% stabilized cap rate and 15% stabilized ROI, creating a compelling investment profile for both private and institutional investors.

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Detail Ic Property Details

Property Type : Residential Income

Price : $1,695,000

AD Id : 89203243

MLS Id : 24194779

Beds : 16

Lot Size : 0.76 Acre

Living Area Size : 3,861

Year Built : 1843

County : New London

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Feature Features

  • Bedroom Information

    Total beds: 16

    Room Information

    Rooms Total: 42 Has Basement: Yes Basement: Full
  • Roofing Information

    Asphalt
  • Interior Features

    Roof: Asphalt Appliances: Electric Water Heater, Gas Water Heater
  • Heating & Cooling

    Has Heating: Yes Heating: Electric, Natural Gas, Oil, Propane, Steam Cooling: None

  • Building Information

    Year Built: 1843 Building Area Total: 3861 Construction Materials: Vinyl Siding, Frame Private Pool: No

  • Lot Information

    Lot Size Acres: 0.76

  • Listing Price Information

    Listing Price: $1695000

  • Tax Information

    Parcel Number: 2411992 Annual Tax: $9029

  • Parking Information

    Parking Total: 14 Off Street

  • School Information

    Elementary School: Per Board of Ed
    Junior High School:
    Senior High School: Per Board of Ed
  • Location Information

    Direction: GPS WaterSource: Public
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Nearby Home Value

Address Estimate Bed Bath Sq. Ft Lot Size
617 E Main Street, Norwich, CT, 06360 $255,000 5 2 2,512 2,512 SqFt
531-545 Boswell Avenue, Norwich, CT, 06360 $1,250,000 16 16 8,585 8,585 SqFt
57-59 Tenth Street, Norwich, CT, 06360 $395,000 4 2 1,901 1,901 SqFt
79 Prospect Street, Norwich, CT, 06360 $345,000 8 3 3,123 3,123 SqFt
24 Central Avenue, Norwich, CT, 06360 $339,000 5 2 1,861 1,861 SqFt
463 E Main Street, Norwich, CT, 06360 $525,000 9 3 2,230 2,230 SqFt
116 Taftville Occum Road, Norwich, CT, 06360 $410,000 6 3 2,641 2,641 SqFt
158 Cliff Street, Norwich, CT, 06360 $350,000 6 2 1,685 1,685 SqFt
371 Laurel Hill Avenue, Norwich, CT, 06360 $369,500 6 2 2,232 2,232 SqFt
11 Division Street, Norwich, CT, 06360 $46,000 4 2 2,130 2,130 SqFt

IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.

ByOwner last updated this listing 08/20/2026 @ 05:48

MLS: 24194779 LISTED BY: Anthony Velez, VC Property Group, LLC SOURCE: SmartMLS

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